Debt Notice Neutral
CLINDEB INVESTMENTS LIMITED - NTC50 and NTC51 - Notification of new listings
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What this filing means
Netcare's subsidiary, Clindeb Investments, has raised R800 million through the listing of two new senior unsecured floating-rate notes on the JSE Interest Rate Market.
Bull case
- The successful issuance of NTC50 and NTC51 provides the group with an additional R800 million in debt capital.
- The senior unsecured notes were placed at competitive spreads of 88 bps and 93 bps over 3-month JIBAR, indicating healthy institutional demand.
Bear case
- The new issuance increases the group's total note liabilities beyond the existing R7.03 billion baseline.
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